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Together with the chairman of the Democratic Party Policy Committee Han Jeong-ae, they are all speaking at the party’s political discussion on how to cut the maximum interest rate in court held at the National Assembly on the 16th. Photo = News 1In addition, the Democratic Party and the government decided on the 16th to lower the maximum legal interest rate from 24% per year to 20%. The maximum annual interest rate of 20% is also President Moon Jae-in’s presidential election promise.
The chairman of the Democratic Party Policy Committee Han Jeong-ae met with reporters after meeting with reporters and said the decision was made after the ‘political-partisan discussion on measures to reduce the maximum interest rate. legal ‘held in the Assembly Hall of the National Assembly this morning.
Once final consultations between the parties have been reached, the Financial Services Commission, which is a related ministry, plans to announce additional details on the legal maximum interest rate.
The leader of the Democratic Party, Kim Tae-nyeon, said in a partisan political consultation: “The standard interest rate of the Bank of Korea is 0.5%. In such a low interest rate situation, it is anachronistic to set the highest interest rate at 24%, “he said.” In today’s discussions, the party and the government will come up with a plan to reduce the interest burden of ordinary people, but not to reduce the supply of credit loans. “First, it is necessary to ease the interest burden of the people. common by lowering the legal maximum interest rate. “As a national task, the Moon Jae-in administration decided to gradually reduce the maximum interest rate to 20% per annum, and in 2018 it was reduced to 24%.”
Together with the leader of the Democratic Party, Kim Tae-yeon, they are all speaking in the political discussion of the party on how to cut the legal maximum interest rate held in the National Assembly on the 16th. Photo = News 1He added: “We will also prepare measures to prevent the secondary effects that may occur due to the higher cut in interest rates.” He added: “As finance companies reduce their loans, there is the possibility that the opportunity to use funds to low creditors will be reduced and there is concern that illegal private financing could expand further.” .
Chairman Han also said: “On the one hand, it is true that there is a side effect of increasing the number of people who can no longer use loans, as finance companies see more difficult credit ratings if the higher interest rate is cut. . It is a place to discuss ways to maximize the side effects of abandoning loan risk while maximizing it.
Finance Commissioner Eun Seong-soo said: “There has been a lot of pain because a cut in the higher interest rate can eliminate the loan opportunity itself,” he said. “However, it is time to lower the higher interest rate.”
The Chairman of the National Assembly Political Committee, Yoon Gwan-seok, met with reporters and said: “There were follow-up measures when the highest interest rate was lowered from 24.9% to 24% in 2018, but we will review and we will prepare for various side effects. “
However, he added, “even if the law is passed, it will take at least six months to create an enforcement decree, so this year (enforcement) is difficult,” he added. “It will be in the first semester or the second semester of next year.”
Seo Han-gil, reporter for Dong-A.com [email protected]
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